Commercial Metals Stock (NYSE:CMC), Trade Ideas

Commercial Metals

Commercial Metals Co operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and manufactures rebar and structural steel, which are key product categories for the nonresidential construction sector. The Company has two reportable segments: North America and Europe.

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Top stories: CMC reports Q2 results, NEM sees bearish sentiment in options, ATLX adds COO, X names Volunteer of the Year, JPM analyst raises TX price target.

Commercial Metals Reports Q2 Results; Bearish Options Activity For Newmont; Atlas Lithium&#39;s New COO And More: Thursday&#39;s Top Mining Stories

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CMC reported net sales decline of 8.4% in Q2, but beat expectations. Downstream contract awards increased, and cost reductions improved financial performance.

Commercial Metals Beats Q2 Expectations Despite Sales Dip, Gears Up For Solid Construction Season

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Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has fallen 27.08% since its last report. The company recently reported that it has 2.42 million shares sold short, which is 2.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.91 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713456922_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 6.02%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Looking Into Commercial Metals's Recent Short Interest

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.24% on an annualized basis producing an average annual return of 25.3%. Currently, Commercial Metals has a market capitalization of $6.48 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $3,130.72 today based on a price of $55.96 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712935818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Commercial Metals Stock In The Last 5 Years

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.07% on an annualized basis producing an average annual return of 11.93%. Currently, Commercial Metals has a market capitalization of $6.84 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,128.20 today based on a price of $59.08 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712088022_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 10 Years Ago Would Be Worth This Much Today

Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has risen 12.28% since its last report. The company recently reported that it has 3.32 million shares sold short, which is 3.84% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.36 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711985410_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 5.91%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Making a noteworthy insider sell on March 29, Barbara Smith, Executive Chairman at Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>), is reported in the latest SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000022444/000002244424000071//Archives/edgar/data/22444/000002244424000071/0000022444-24-000071-index.htm">U.S. Securities and Exchange Commission</a> on Friday showed that Smith sold 35,704 shares of Commercial Metals. The total transaction amounted to $2,066,547. 
Monitoring the market, Commercial Metals's shares up by 1.55% at $59.0 during Friday's morning.
<h3>Unveiling the Story Behind Commercial Metals</h3>
Commercial Metals Co operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and manufactures rebar and structural steel, which are key product categories for the nonresidential construction sector. The Company has two reportable segments: North America and Europe.
<h3>Commercial Metals: A Financial Overview</h3>
Negative Revenue Trend: Examining Commercial Metals's financials over 3 months reveals challenges. As of 29 February, 2024, the company experienced a decline of approximately -8.41% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: Achieving a high gross margin of 16.03%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Commercial Metals's EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 0.74.
</li>
</ul>
Debt Management: Commercial Metals's debt-to-equity ratio is below the industry average at 0.28, reflecting a lower dependency on debt financing and a more conservative financial approach.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 10.12 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 0.82 is lower than the industry average, implying a discounted valuation for Commercial Metals's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Indicated by a lower-than-industry-average EV/EBITDA ratio of 6.14, the company suggests a potential undervaluation, which might be advantageous for value-focused investors.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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<h3>Why Insider Activity Matters in Finance</h3>
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>Transaction Codes To Focus On</h3>
When dissecting transactions, the focal point for <a href="https://www.benzinga.com/money/investing-tools">investors</a> is often those occurring in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000022444">Check Out The Full List Of Commercial Metals's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Barbara Smith Implements A Sell Strategy: Offloads $2.07M In Commercial Metals Stock

BMO Capital analyst Katja Jancic maintains Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) with a Market Perform and raises the price target from $52 to $60.

Price Target

Analyst Ratings

BMO Capital Maintains Market Perform on Commercial Metals, Raises Price Target to $60

Top Stories for March 21, 2024:
1. Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) reported <a href="https://www.benzinga.com/wiim/24/03/37867255/commercial-metals-shares-are-trading-higher-following-better-than-expected-q2-eps-and-sales-results">fiscal second quarter</a> financial results.
The company reported earnings of $85.8 million (73 cents per share) on $1.8 billion sales, down from the previous year&#8217;s $179.8 million ($1.51 per share) on $2 billion. 
Adjusting for a $17.2 million charge related to the Arizona 2 micro mill, earnings were $103.1 million (88 cents per share), compared to last year&#8217;s adjusted $171.3 million ($1.44 per share). 
Core EBITDA was $224.4 million with a 12.1% margin and the company saw a peak in downstream contract awards in nearly two years, indicating a strong upcoming construction season.&nbsp;
Both North America and Europe Steel Groups improved in controllable costs per ton shipped, with Europe also seeing better market balance excluding energy rebates.&nbsp;
Strategic growth continued with Arizona 2&#8217;s successful merchant bar product launch, a global micro mill steelmaking first.
2. An options analysis of Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the largest gold miner by market capitalization, highlighted a <a href="https://www.benzinga.com/insights/options/24/03/37871993/spotlight-on-newmont-analyzing-the-surge-in-options-activity">predominantly bearish sentiment</a> from large investors, with 80% bearish and 20% bullish trades among 10 unusual trades. 
The trades include three puts valued at $126,300 and seven calls worth $355,159.&nbsp;
Based on the activity, investors are targeting a range from $30 to $40 for Newmont in the next three months.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/03/37857275/exclusive-battery-companies-back-small-miners-for-long-term-provide-bright-spot-as-funding-ma">EXCLUSIVE: Battery Companies Back Small Miners For Long Term, Provide Bright Spot As Funding Market Crashes</a>
3. Atlas Lithium Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATLX#NASDAQ">ATLX</a>) will add Brian Talbot as Chief Operating Officer (COO) and Board member on April 1, 2024. 
Talbot has significant lithium sector experience and joins as the company prepares for its first revenues and production in Q4 2024.&nbsp;
Previously, he founded RTEK International DMCC for lithium consulting and served as COO at Sigma Lithium, leading the Grota do Cirilo project in Brazil.
4. United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) named its Volunteer of the Year and 12 Service Champions for 2023 under its United by Service initiative.
The company donated $15,000 on behalf of the Volunteer of the Year and $5,000 on behalf of each of the 12 champions to their chosen charities for a total of $75,000.&nbsp;
The initiative, honoring Dr. Martin Luther King Jr.&#8216;s legacy, saw employees volunteer over 20,000 hours.
5. JPMorgan analyst Rodolfo Angele maintained Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) with an Overweight rating and raised <a href="https://www.benzinga.com/quote/TX/analyst-ratings">his price target</a> from $48 to $51.50.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37868388/3-top-stock-picks-in-metals-mining-sector-to-consider-right-now">3 Top Stock Picks In Metals, Mining Sector To Consider Right Now</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Commercial Metals Reports Q2 Results; Bearish Options Activity For Newmont; Atlas Lithium's New COO And More: Thursday's Top Mining Stories

Commercial Metals Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) reported second-quarter fiscal 2024 net sales decline of 8.4% year-over-year to $1.85 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37865677/cmc-reports-second-quarter-fiscal-2024-results" rel="noreferrer noopener">beating the consensus of $1.80 billion.</a>
Downstream contract awards surged to their highest level in almost two years in the quarter, indicating a robust pipeline poised for the forthcoming construction season.
The company reported that its North America and Europe Steel Groups made significant improvements in reducing controllable costs per ton of finished steel shipped year-over-year, positively impacting financial performance.
Adjusted EPS was $0.88, down from $1.44 a year ago,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $0.75.</a>
The average selling price for steel products decreased to $905 per ton compared to $985 a year ago.
North America Steel Group&#8217;s cost of scrap utilized increased by $33 per ton, resulting in a year-over-year decrease in steel products margin over scrap of $113 per ton.&nbsp;
Total adjusted EBITDA declined 33.6% Y/Y to $197.1 million, and the margin contracted by 404 bps to 10.7%.
As of February 29, 2024, cash and cash equivalents totaled $638.3 million, with available liquidity of ~$1.5 billion.
CMC&#8217;s net cash flows from operating activities for the first six months totaled $350.02 million compared to $558.91 million in 2023.
During the quarter, the company repurchased 945,205 shares valued at $47.9 million. As of February 29, 2024, CMC had $510.4 million remaining under the current share repurchase authorization.
Core EBITDA decreased to $224.37 million from $302.79 million a year ago; the margin contracted 286 bps to 12.1%.
Dividend:&nbsp;On March 20, CMC declared a quarterly dividend of $0.18 per share, representing an increase of ~13% from the prior dividend. The dividend is payable on April 10, 2024, to stockholders of record on April 1, 2024.
&#8220;Based on our current outlook for production mix and volume levels, the plant is anticipated to achieve EBITDA breakeven results by the end of the fiscal year. Site improvements at our Steel West Virginia micro mill are nearing completion. Initial equipment deliveries are scheduled for the spring and early summer, and we expect to remain on plan for a start-up in late calendar 2025,&#8221; commented Peter Matt, President and Chief Executive Officer.
&#8220;These projects, together with our recent acquisitions, position us to take advantage of favorable structural trends powering domestic construction, and are expected to drive strong future growth in earnings, cash flow, and shareholder value,&#8221; Matt concluded.
Price Action:&nbsp;CMC shares are trading higher by 1.57% at $56.89 on the last check Thursday.

WIIM

Commercial Metals shares are trading higher following better-than-expected Q2 EPS and sales results.

Guidance

Commercial Metals Expects Adjusted EBITDA Margin In North America Steel Group To Be Largely Stable On A Sequential Basis And Expects To Approach Breakeven Levels During The Third Quarter

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.73 by 20.55 percent. This is a 38.89 percent decrease over earnings of $1.44 per share from the same period last year. The company reported quarterly sales of $1.85 billion which beat the analyst consensus estimate of $1.80 billion by 2.67 percent. This is a 8.42 percent decrease over sales of $2.02 billion the same period last year.

Commercial Metals Q2 Adj. EPS $0.88 Beats $0.73 Estimate, Sales $1.85B Beat $1.80B Estimate

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&bull; MiNK Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INKT#NASDAQ">INKT</a>) is likely to report earnings for its fourth quarter.
&bull; Nano Dimension (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNDM#NASDAQ">NNDM</a>) is likely to report earnings for its fourth quarter.
&bull; Shoe Carnival (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) is likely to report quarterly earnings at $0.59 per share on revenue of $280.27 million.
&bull; Destination XL Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXLG#NASDAQ">DXLG</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $138.29 million.
&bull; CareCloud (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCLD#NASDAQ">CCLD</a>) is estimated to report quarterly loss at $0.34 per share on revenue of $30.88 million.
&bull; Apyx Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APYX#NASDAQ">APYX</a>) is estimated to report quarterly loss at $0.18 per share on revenue of $14.85 million.
&bull; SNDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) is likely to report earnings for its fourth quarter.
&bull; 111 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YI#NASDAQ">YI</a>) is likely to report earnings for its fourth quarter.
&bull; Rockwell Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMTI#NASDAQ">RMTI</a>) is projected to report quarterly loss at $0.07 per share on revenue of $22.63 million.
&bull; CENTRAL &amp; EASTERN EUROPE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEE#NYSE">CEE</a>) is expected to report earnings for its Fiscal Year 2023.
<h3>Companies Reporting After The Bell</h3>
&bull; Largo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGO#NASDAQ">LGO</a>) is estimated to report quarterly loss at $0.05 per share on revenue of $47.10 million.
&bull; Xos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XOS#NASDAQ">XOS</a>) is projected to report quarterly loss at $1.92 per share on revenue of $17.05 million.
&bull; Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) is projected to report quarterly earnings at $5.00 per share on revenue of $3.19 billion.
&bull; Cutera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CUTR#NASDAQ">CUTR</a>) is estimated to report quarterly loss at $0.99 per share on revenue of $49.15 million.
&bull; Vitru (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRU#NASDAQ">VTRU</a>) is projected to report earnings for its fourth quarter.
&bull; Scholastic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>) is projected to report quarterly loss at $0.80 per share on revenue of $329.21 million.
&bull; Worthington Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) is estimated to report quarterly earnings at $0.84 per share on revenue of $700.50 million.
&bull; Journey Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DERM#NASDAQ">DERM</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $15.06 million.
&bull; Asensus Surgical (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ASXC#AMEX">ASXC</a>) is likely to report quarterly loss at $0.08 per share on revenue of $5.30 million.
&bull; Valhi (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VHI#NYSE">VHI</a>) is expected to report quarterly earnings at $0.03 per share on revenue of $13.55 million.
&bull; Biolase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOL#NASDAQ">BIOL</a>) is projected to report quarterly loss at $2.55 per share on revenue of $13.55 million.
&bull; HireQuest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQI#NASDAQ">HQI</a>) is projected to report quarterly loss at $0.06 per share on revenue of $8.60 million.
&bull; Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is likely to report quarterly earnings at $0.74 per share on revenue of $12.28 billion.
&bull; FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) is likely to report quarterly earnings at $3.53 per share on revenue of $22.05 billion.
&bull; Intellicheck (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDN#NASDAQ">IDN</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $5.31 million.
&bull; Abacus Life (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABL#NASDAQ">ABL</a>) is estimated to report earnings for its fourth quarter.
&bull; AAR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) is estimated to report quarterly earnings at $0.84 per share on revenue of $567.63 million.
&bull; Amprius Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPX#NYSE">AMPX</a>) is expected to report quarterly loss at $0.11 per share on revenue of $2.70 million.
&bull; CaliberCos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWD#NASDAQ">CWD</a>) is likely to report quarterly loss at $0.17 per share on revenue of $4.25 million.
&bull; Hyperfine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYPR#NASDAQ">HYPR</a>) is estimated to report quarterly loss at $0.18 per share on revenue of $3.71 million.
&bull; Cibus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBUS#NASDAQ">CBUS</a>) is estimated to report quarterly loss at $1.43 per share on revenue of $380 thousand.
&bull; Direct Digital Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $65.95 million.
&bull; TELA Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELA#NASDAQ">TELA</a>) is expected to report quarterly loss at $0.43 per share on revenue of $16.39 million.
&bull; One Stop Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSS#NASDAQ">OSS</a>) is projected to report quarterly loss at $0.04 per share on revenue of $13.01 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

ALUR

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APYX

ASXC

BIOL

BZUN

CBUS

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DERM

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DXLG

EXAI

FENC

GAMB

HYPR

IFRX

INKT

IPHA

KIRK

LIQT

LULU

LUNR

MDWD

MLYS

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RMTI

SCHL

SCVL

SNDL

TELA

TITN

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WELL

XFOR

Earnings Scheduled For March 21, 2024

Top Stories for March 20, 2024:
1. Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) <a href="https://www.benzinga.com/news/24/03/37844058/nucor-signs-agreement-with-mercedes-benz-to-supply-econiq-re-terms-not-disclosed">signed an agreement</a> with Mercedes-Benz (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>) to supply its advanced, low-carbon steel Econiq-RE for vehicle production in Tuscaloosa, Alabama. 
Econiq-RE is made with 100% renewable energy, drastically cutting greenhouse gas emissions compared to traditional steel.&nbsp;
This partnership aligns with both companies&#8217; sustainability goals, as Nucor aims to hit net-zero emissions by 2050 and continues to be a leader in recycling and emission reduction in steel production.
Nucor's EVP of Commercial Dan Needham said, &#8220;Our Econiq brand is helping steel end-users meet their growth and sustainability goals, and we are proud that it is going to be a key piece of Mercedes-Benz&#8217;s path towards a net carbon-neutral new car fleet along the entire value chain.&#8221;
2. ATI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>) launched its advanced 12,500-ton billet forging press known as BSOII in North Carolina to enhance titanium production for aerospace and defense. 
The press came online to match the company's increased titanium capacity, supporting the creation of complex, novel alloys. It surpasses older models in tonnage and precision, vital for cutting-edge jet engines.&nbsp;
North Carolina Senator Ted Budd joined the ribbon-cutting ceremony where he said, "Part of what makes our nation strong is having a strong national defense&#8230; It&#8217;s having strong providers and suppliers – companies like ATI – in that supply chain. Thanks to ATI for keeping our supply chain strong.&#8221;
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/03/37834525/cleanup-costs-for-tecks-elk-valley-mining-may-slow-9b-asset-sale-to-glencore-wildsight-report">Cleanup Costs For Teck&#8217;s Elk Valley Mining, May Slow $9B Asset Sale To Glencore, Wildsight Reports</a>
3. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) has surged more than 13% in March, marking the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37852494/copper-stocks-rally-as-market-tightness-reaches-historic-levels-analysts-see-major-">highest monthly gain</a> since November 2022. 
So far this month, Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) and Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) have increased by roughly 24% and 18%, respectively.&nbsp;
This rally has been driven by a sharp rise in copper prices attributed to significant market tightness.&nbsp;
Goldman Sachs analysts suggested scarcity pricing by 2025 due to low stock levels, peak mine supply and strong demand from green technologies.
4. Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) declared a quarterly dividend of $0.18 per share, a $0.02 increase (13%) from the previous <a href="https://ir.cmc.com/CMC-Announces-a-13-Increase-In-Quarterly-Dividend-3-20-2024">quarter</a>.
The dividend will be paid on April 10, 2024 to all shareholders as of April 1, 2024.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/24/03/37708828/lithium-americas-receives-record-loan-for-2-2b-milestone-project-in-nevada">Lithium Americas Receives Record Loan For $2.2B, Milestone Project In Nevada</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image created using artificial intelligence with Midjourney.

Nucor Signs Deal With Mercedes-Benz; ATI Launches New Forging Press; Copper Prices Surge And More: Wednesday's Top Mining Stories

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) is set to give its latest quarterly earnings report on Thursday, 2024-03-21. Here's what investors need to know before the announcement.
Analysts estimate that Commercial Metals will report an earnings per share (EPS) of $0.73. 
Commercial Metals bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.18, which was followed by a 4.8% drop in the share price the next day.
Here's a look at Commercial Metals's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.45</td>
<td>1.81</td>
<td>1.76</td>
<td>1.44</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.63</td>
<td>1.69</td>
<td>2.02</td>
<td>1.44</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-5.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1710943284_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Commercial Metals were trading at $54.5 as of March 19. Over the last 52-week period, shares are up 20.67%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CMC/earnings">To track all earnings releases for Commercial Metals visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Commercial Metals

CMC Increases Quarterly Dividend From $0.16 To $0.18

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 14.42% on an annualized basis producing an average annual return of 26.97%. Currently, Commercial Metals has a market capitalization of $6.20 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $328.99 today based on a price of $53.26 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710518421_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today

<h3>The Meaning Behind Value Stocks</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Below is a list of notable value stocks in the basic materials sector:</h2>
<ol>
<li>Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) - P/E: 8.26</li>
<li>Compañía de Minas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) - P/E: 6.82</li>
<li>LSB Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXU#NYSE">LXU</a>) - P/E: 5.84</li>
<li>CVR Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAN#NYSE">UAN</a>) - P/E: 4.18</li>
<li>Gerdau (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGB#NYSE">GGB</a>) - P/E: 4.81</li>
</ol>
Commercial Metals has reported Q1 earnings per share at $1.63, which has decreased by 3.55% compared to Q4, which was 1.69. The company's most recent dividend yield sits at 1.31%, which has decreased by 0.02% from 1.33% last quarter. 
Compañía de Minas has reported Q4 earnings per share at $-0.04, which has increased by 63.64% compared to Q3, which was -0.11. Most recently, the company reported a dividend yield of 1.41%, which has increased by 0.69% from last quarter's yield of 0.72%.
LSB Industries's earnings per share for Q3 sits at $-0.1, whereas in Q2, they were at 0.25. Most recently, CVR Partners reported earnings per share at $0.94, whereas in Q3 earnings per share sat at $0.07. Its most recent dividend yield is at 9.28%, which has increased by 1.36% from 7.92% in the previous quarter.
Most recently, Gerdau reported earnings per share at $0.38, whereas in Q1 earnings per share sat at $0.35. Its most recent dividend yield is at 8.19%, which has increased by 1.75% from 6.44% in the previous quarter.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

5 Value Stocks In The Basic Materials Sector

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said he can&rsquo;t recommend Equinix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eqix#NASDAQ">EQIX</a>) as the company&rsquo;s stock is just up so much. However, Cramer said he <a href="https://www.benzinga.com/markets/equities/24/02/37289570/equinix-eyes-african-growth-with-390m-investment-in-data-center-expansion-report"> likes it &quot;very much.&quot; </a>
On Feb. 14, Equinix posted better-than-expected sales for its fourth quarter. The company&rsquo;s board also declared a quarterly cash dividend of $4.26 per share on its common stock.
Cramer said Signet Jewelers Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sig#NYSE">SIG</a>) CEO Gina Drosos is doing a &quot;remarkable job.&quot; He added, &quot;You&rsquo;ve got a winner there.&quot;
On Feb. 28, Signet Jewelers appointed Sandra Cochran to its board on Feb. 27.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
&quot;There is going to be what&rsquo;s known as a lock-up expiration where Softbank is going to be able to sell a lot of stock,&quot; Cramer said when asked about Arm Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arm#NASDAQ">ARM</a>). &quot;If you want to buy some right now and then wait for that lock-up to end.&quot;
On Feb. 20, Samsung Electronics announced a collaboration with Arm Holdings to deliver the next-generation Arm Cortex-X CPU using Samsung Foundry&rsquo;s latest Gate-All-Around (GAA) process technology.
Commercial Metals Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmc#NYSE">CMC</a>) is a &quot;winner,&quot; he said.
Commercial Metals is expected to report second-quarter earnings on March 21, 2024. Analysts expect the company to post quarterly earnings at 80 cents per share on revenue of $1.82 billion.
The &quot;Mad Money&quot; host said Infosys (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/infy#NYSE">INFY</a>) is a &quot;smart consulting company&quot; and he likes the stock.
On Feb. 27, Infosys announced the launch of its Responsible AI Suite, a part of Infosys Topaz, an AI-first set of services, solutions, and <a href="https://www.benzinga.com/news/24/02/37218987/samsung-and-arms-latest-ai-chip-collaboration-a-new-era-for-mobile-computing">platforms using generative AI</a>.
When asked about Amkor (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amkr#NASDAQ">AMKR</a>), he declared, &quot;You got a winner.&quot;
On Feb. 29, Goldman Sachs analyst Toshiya Hari initiated coverage on Amkor Tech with a Neutral rating and announced a price target of $32.
<h3>Price Action:</h3>
<ul>
<li>Shares of Signet Jewelers fell 1.1% to close at $101.76 on Thursday.</li>
<li>Equinix shares declined 0.3% to close at $888.82 on Thursday.</li>
<li>Infosys shares gained 0.1% to settle at $19.96.</li>
<li>Commercial Metals shares fell 0.4% to settle at $54.00 on Thursday.</li>
<li>Amkor shares gained 2.2% to close at $31.02 on Thursday.</li>
<li>Arm shares gained 5.4% to settle at $141.04.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37396714/immunic-and-2-other-stocks-under-2-insiders-are-buying"> Immunic And 2 Other Stocks Under $2 Insiders Are Buying </a>

Long Ideas

Media

AMKR

EQIX

INFY

Jim Cramer Says This Is A 'Smart Consulting Company,' Calls Commercial Metals Company A Winner

<h3>What are Value Stocks?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Below is a list of notable value stocks in the basic materials sector:</h2>
<ol>
<li>Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) - P/E: 8.24</li>
<li>LSB Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXU#NYSE">LXU</a>) - P/E: 6.1</li>
<li>Clearwater Paper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLW#NYSE">CLW</a>) - P/E: 6.18</li>
<li>Sylvamo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVM#NYSE">SLVM</a>) - P/E: 9.31</li>
<li>Origin Mat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGN#NASDAQ">ORGN</a>) - P/E: 1.47</li>
</ol>
Commercial Metals has reported Q1 earnings per share at $1.63, which has decreased by 3.55% compared to Q4, which was 1.69. The company's most recent dividend yield sits at 1.31%, which has decreased by 0.02% from 1.33% last quarter. 
LSB Industries's earnings per share for Q3 sits at $-0.1, whereas in Q2, they were at 0.25. Clearwater Paper saw a decrease in earnings per share from 2.19 in Q3 to $1.35 now. This quarter, Sylvamo experienced a decrease in earnings per share, which was $1.7 in Q3 and is now $1.16. Its most recent dividend yield is at 2.14%, which has decreased by 0.25% from 2.39% in the previous quarter.
Origin Mat saw an increase in earnings per share from -0.05 in Q2 to $0.22 now. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

ORGN

SLVM

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.51% on an annualized basis producing an average annual return of 26.11%. Currently, Commercial Metals has a market capitalization of $6.25 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $316.38 today based on a price of $53.67 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708621222_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Commercial Metals 5 Years Ago Would Be Worth This Much Today

An announcement from Commercial Metals Company (CMC) is now available. The Company has recently published a financial presentation on its website, ...

Commercial Metals Company Showcases Q2 Fiscal 2024 Performance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Commercial Metals (NYSE:<a href="https://investorplace.com/stock-quotes/cmc-stock-quote/">CMC</a>) just reported results for the second quarter of 2024.<ul><li>Commercial Metals reported earnings per share of 88 cents. This was above the analyst estimate for EPS of 73 cents.</li><li>The company reported revenue of $1.85 billion.</li><li>This was 2.67% better than the analyst estimate for revenue of $1.80 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
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	The post <a href="https://investorplace.com/earning-results/2024/03/cmc-stock-earnings-commercial-metals-for-q2-of-2024/">CMC Stock Earnings: Commercial Metals Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CMC Stock Earnings: Commercial Metals Beats EPS, Beats Revenue for Q2 2024

These Basic Materials stocks are trading higher:-New Pacific Metals Corp (NEWP) stock is trading at $1.17, a rise of $0.08, or 7.34%, on low volume.  New Pacific Metals Corp gets a Sentiment Score of Very Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $4.7

Basic Materials Stocks Moving Up and Down Thursday: NEWP, LAC, CMC, RDUS, AUST, ATLX, WRN, LGO

Commercial Metals Company (CMC) Q2 2024 Earnings Call Transcript

Commercial Metals Company (CMC) stock has gained 7.38% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator. Commercial Metals Company has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CMC!See Full CMC ReportWhat is Stock Sentiment?Senti

What is the Market's View on Commercial Metals Company (CMC) Stock's Price and Volume Trends Friday?

22 Q1 Attractive All-Star Dogs From AAII And Barron's

In a report released today, Philip Gibbs from KeyBanc maintained a Hold rating on Commercial Metals Company (CMC – Research Report). The company's ...

Commercial Metals Company (CMC) Receives a Hold from KeyBanc

Analysts have been eager to weigh in on the Materials sector with new ratings on Commercial Metals Company (CMC – Research Report), James Hardie (J...

Analysts Offer Insights on Materials Companies: Commercial Metals Company (CMC), James Hardie (JHX) and Mineral Resources Limited (OtherMALRF)

IWN: Appealing Valuation, Underwhelming Performance

While the overall stock market has slumped in recent weeks, metals and mining stocks are showing no signs of weakness and are instead picking up mo...

XME ETF: Time to Check Out Metals and Mining Stocks?

AUST

AVUV

CAKE

CHRD

CIVI

CIVII

CIVIW

DFSV

ESEA

HEES

KALU

MALRF

MTDR

NEWP

NSSC

OASPW

RDUS

SLYV

SRCL

STLD

SURG

TMHC

UFPI

VIOV

WLLAW

WLLBW

Press Releases

CMC Announces Changes to Segment Reporting

CMC Publishes 2023 Sustainability Report

CMC Announces Quarterly Dividend of $0.16 Per Share

CMC Reports First Quarter Fiscal 2024 Results

Entertainment

General

CMC To Be Featured In Season Two of National Docuseries "REPURPOSED"

CMC Announces Increase to its Existing Share Repurchase Program

CMC Announces Appointment of Dennis V. Arriola to Board of Directors

CMC Announces Second Quarter Fiscal 2024 Conference Call Webcast Details

CMC Announces a 13% Increase In Quarterly Dividend

CMC Reports Second Quarter Fiscal 2024 Results

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